Germany-based storage player Oiltanking will set up a new bulk liquid terminal in the land of pharaohs in partnership with local firm Sonker Bunkering Company.
The proposed terminal is being built on 50 hectares of land at East Port Said, situated by the northern entrance to the Suez Canal.
Phase one will see total tankage volume stand at 1 million m3, and four dedicated deepwater jetties. The terminal will be operational in mid-2011.
Port Said is strategically placed as a fuelling station for ships that pass through the Suez Canal and dedicated storage for marine fuels and an easing of import restrictions will now allow its bunker market to grow.
Sonker Bunkering Company S.A.E. (Sonker) is a petroleum storage, handling and bunker supply company jointly owned by the Amiral Holding Group and companies associated with Egyptian government entities.
Oiltanking is the second-largest independent tank storage provider for petroleum products, chemicals and gases worldwide with an overall storage capacity exceeding 17 million m³. It is a subsidiary of Germanys privately-owned petroleum company Marquard and Bahls.